Out of 42,487 applicants — the largest pool in University history — 1,402 high school seniors received letters of acceptance to Stanford’s Class of 2019, in addition to the 742 early action students accepted in December.

The decrease in admissions rate follows the trend of increasing selectivity in recent years. The university admitted 5.7 percent of applicants in 2013 and 6.6 percent in 2012.

In total, 2,144 students from 50 states and 77 countries have been offered a place in the class. Last year, 2,138 students from 50 states and 71 countries were accepted out of a pool of 42,167 applicants.

The University also announced an expanded financial aid program in which fewer parents will be expected to contribute to education costs.

The new policy expands the income thresholds so that parents with an annual income below $125,000 will not be expected to cover academic tuition. Additionally, parents with an annual income below $65,000 will not be expected to contribute toward academic tuition or room and board. The previous thresholds, established in 2008-09, were set at $100,000 and $60,000 respectively.

The change came in light of a 3.5 percent increase in Stanford tuition that was approved by the Board of Trustees in February, and similar increases in recent years. Total undergraduate fees will increase to $60,427 next academic year, compared to $47,212 in 2008-09.

Students will still be expected to contribute at least $5,000 a year to their educations through savings, summer jobs and part-time work during the school year.

“Our highest priority is that Stanford remains affordable and accessible to the most talented students, regardless of their financial circumstances,” Provost John Etchemendy said in a University press release.

“Our generous financial aid program accomplishes that, and these enhancements will help even more families, including those in the middle class, afford Stanford without going into debt. Over half of our undergraduates receive financial aid from Stanford, and we are pleased that this program will make it even easier for students to thrive here.”

Contact Alexandra Nguyen-Phuc at nguyenphuc ‘at’ stanford.edu.

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